Sandy Spring Bancorp (SASR) Receives Hold Rating from Boenning Scattergood
Boenning Scattergood reiterated their hold rating on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a report published on Tuesday. Boenning Scattergood also issued estimates for Sandy Spring Bancorp’s Q4 2017 earnings at $0.42 EPS and FY2017 earnings at $2.29 EPS.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a hold rating to a buy rating and set a $44.00 price objective on the stock in a research note on Wednesday, September 20th. ValuEngine downgraded shares of Sandy Spring Bancorp from a buy rating to a hold rating in a research note on Thursday, September 7th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $42.50.
Sandy Spring Bancorp (NASDAQ SASR) opened at $39.47 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.03 and a quick ratio of 1.03. Sandy Spring Bancorp has a one year low of $36.50 and a one year high of $45.64. The company has a market cap of $954.46, a PE ratio of 16.38 and a beta of 0.99.
Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.01). Sandy Spring Bancorp had a net margin of 24.31% and a return on equity of 10.61%. The business had revenue of $55.44 million during the quarter, compared to analyst estimates of $58.34 million. During the same quarter last year, the company posted $0.56 earnings per share. research analysts anticipate that Sandy Spring Bancorp will post 2.4 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in SASR. Schwab Charles Investment Management Inc. grew its stake in Sandy Spring Bancorp by 42.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 144,228 shares of the bank’s stock worth $5,865,000 after buying an additional 43,299 shares in the last quarter. First Trust Advisors LP grew its stake in Sandy Spring Bancorp by 70.5% during the second quarter. First Trust Advisors LP now owns 75,232 shares of the bank’s stock worth $3,059,000 after buying an additional 31,100 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Sandy Spring Bancorp by 9.5% during the second quarter. Bank of New York Mellon Corp now owns 275,394 shares of the bank’s stock worth $11,198,000 after buying an additional 23,956 shares in the last quarter. Legal & General Group Plc grew its stake in Sandy Spring Bancorp by 2.1% during the second quarter. Legal & General Group Plc now owns 8,994 shares of the bank’s stock worth $365,000 after buying an additional 182 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Sandy Spring Bancorp by 554.4% during the second quarter. BNP Paribas Arbitrage SA now owns 3,586 shares of the bank’s stock worth $146,000 after buying an additional 3,038 shares in the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.
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Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.
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